Hubbard, OH Cost of Living

Hubbard cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Displayed above is a general overview of the Hubbard, OH cost of living index. The overall cost of living index in Hubbard, OH is 79, which is 13% lower than the Ohio average and 21% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Hubbard, OH are 7% lower than the Ohio average and 11% lower than the national average.

Did you know?

The cost of living in Hubbard is 13% lower than the Ohio average.

The cost of living in Hubbard is 21% lower than the national average.

The cost of housing in Hubbard is 42% lower than the national average.

Ohio general sales tax is 13% higher than the national average.

Ohio state income tax is 76% lower than the national average.

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Compare Hubbard, OH Cost of living To Other Cities

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Hubbard, OH to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Hubbard, OH, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Hubbard, OH salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$55,601

$4,633

$1,297

$1,668

Renters

$27,054

$2,255

$631

$812

If you want to find a good determining factor for the cost of living and the general affordability of housing in Hubbard, OH, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Hubbard, OH, the median monthly income is $55,601 for those who own their own homes. Under the standard rule, that income level would allow for $1,297 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $27,054, per the median income in the area. That would allow for renters to spend up to $631 on monthly rental expenses.

Ohio Sales Tax

State

General Sales Tax

With Max Surtax

Ohio

5.75%

8%

Ohio Income Tax

State

Income Tax (Low)

Income Tax (High)

Ohio

0.528%

5.333%

When you are determining the total cost of living in Hubbard, OH you will want to make sure you consider both the Ohio sales tax and the Ohio income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Ohio is 5.75%, with the highest surtax being 8%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Ohio have a range from 0.528% to 5.333%.

Goods & Services

Item

Hubbard

National avg.

Difference

Haircut

$12.20

$14.59

16.4%

Beauty Salon

$25.60

$34.68

26.2%

Toothpaste

$1.91

$2.47

22.8%

Shampoo

$0.81

$1.02

20.7%

Movie

$9.50

$9.87

3.7%

Bowling

$3.20

$4.39

27.1%

Groceries

Item

Hubbard

National avg.

Difference

Ground Beef

$3.59

$4.48

19.8%

Fried Chicken

$1.07

$1.46

26.9%

Milk

$1.50

$2.36

36.4%

Potatoes

$1.58

$3.06

48.4%

Pizza

$9.00

$9.24

2.6%

Beer

$8.99

$8.63

4.1%

Health Care

Item

Hubbard

National avg.

Difference

Optometrist

$83.80

$99.78

16.0%

Doctor

$72.40

$105.03

31.1%

Dentist

$70.60

$88.70

20.4%

Ibuprofen

$7.51

$9.41

20.2%

Lipitor

$319.82

$298.50

7.1%

Housing

Item

Hubbard

National avg.

Difference

Home Price

$93,500.00

$175,700.00

46.8%

Avg. Mortgage Payment

$765.19

$1,081.03

29.2%

Apartment Rent

$624.00

$920.00

32.2%

Transportation

Item

Hubbard

National avg.

Difference

Gasoline

$2.00

$2.09

4.6%

Tire Balancing

$36.78

$45.29

18.8%

Utilities

Item

Hubbard

National avg.

Difference

All Electricity

$137.52

$170.80

19.5%

Phone

$31.43

$28.26

11.2%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.